Today, energy regulator Ofgem announced that the price cap would rise on 1 October from £1,971 to £3,549. It gets worse. Cornwall Insight, the consultancy that previously predicted today’s rise to the virtual penny, warns it’ll climb to nearly £7,000 a year by next April.
How did the UK, a wealthy nation blessed with plentiful hydrocarbon and renewable resources, find itself in this position? The government will point to Russia’s invasion of Ukraine, and this is of course the spark. But it is only part of the story. The other lies in a decade of policy failures.
